Cost_&_mgt_Accounting'06 - Phi UGO-2287134 i, J 353

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Unformatted text preview: Phi UGO-2287134 i, J 353 E:.-..:.-:;".05:Fr.+.-a.ri Carr05p030‘00:.e Ceiiege it 27. 1 Floor. Park Road. " Thulasi Th::am, Ne: Bangalore — 56 :r Majestic 05504020 Page No.;. 1 Third Year (BBM) Degree Examination, August/September 2006 Distance Education f. 1 Cost and Management Accounting Time: 3 hrs.] PART - A Answer any TWO questions. [Max.Ma.rks : 70 5 marks each. 1. What is direct expense. GiVC examples. 2. State the fucntidns of purchase department. 3. Calculate material cost variance, material price variance and material usage variance Standard quantity of materials 500 units Standard price Rs. 4 per unit Actual price R5420 per unit. Actual quantity 480 units. _ 4. Calculate debtors turnover ratio and average collection period : x Debtors on 1.1.2005 Bills receivables on 1.1.2005 Debtors on 31.12.2005 Bills receivables on 31.12.2005 Total sales Cash sales Returns inward PART-B Rs. 30,000 15,000- 5,000 10,000 50,000 10,000 3,000 Answer any THREE questions. 10 marks each. 5. Following data. relates to S'agar Ltd : Fixed cost Rs. 80,000 Variable cost Rs. 4 per unit Selling price Rs. 20 per unit. Cami... 2 DB C240 Calcualte : a) Profit volume ratio ) Break even point _ 5.. J Required sales when the desired profit is RS.60,000 0 :1) Profit on a sale Of Rs.6,00,000 6. The following are the summarised balance sheets of Sameena. Ltd. : 2005 2006 Rs. Rs. Preference capital - 30,000 Equity capital 1,10,000 1,20,000 General reserve 4,000 4,000 P and L a/c ‘ _ 2,000 2,400 Debentures 12,000 14,000 Provision for ta 6,000 8,400 Proposed dividend 10,000 11,600 Current liabilities 49,000 35,600 1,93,000 2,26,000 Buildings 60,000 50,000 Plant 30,000 50,000 Debtors 40,000 _ 48,000 Stock 60,000 70,000 Bank 3,000 8,000 1,03,000 2,20,000 Prepare funds flow statement. 7. The following transactions took place in respect of "a. material item X : Date Receipt quantity Rate Issue quantity (in units) (Rs ps.) (in units) , 1.3.2006 200 2:00 ' — . 7.3.2000 300 2:40 - 20.3.2000 - - 250 22.3.2006 250 2:60 - 25.3.2006 , - - 200 Prepare stores ledger under FIFO and LIFO methods. Contd... 3 Explain the methods of costing. 563 C53 PART - C Bhuvaneshwari crrespondenceCoHege a! 27, l Fioor. Park Road, ‘ Thulasi Thotam. Hear Maresnc Bangalore - Phi USO-22371541, (355-34820 istinguish between management accounting and cost accounting. ". f, Answer any TWO questions. 15 marks each. Page No... -3 10. Following is the profit and loss a/c of Savana Ltd. for the year ended 31.3.2006 : Openinglstock Purchases : Cash 40,000 Credit M Gross profit c/d To administration expenses ” Financial expenses ” Selling expenaes. ” Net profit Calculate : 0.) Gross profit ratio 0" ) Net profit ratio c) Operating cost ratio d) Operating profit ratio e) Stock turnover ratio. Rs. 20,000 2,00,000 2,00,000 4,20,000 40,000 5,000 20,000 1,40,000 2,05,000 'By sales: Cash 60,000 Credit 3,20,000 Closing stock By Gross profit-b/d ” Profit on sale of building I Rs.‘ 3,00,000 40,000 4,20,000 2,00,000 __ 5,000 2,05,000' 11. Nacleem Ltd. manufactured and sold 500 bicycles in 2005 and the costs were I Raw materials consumed Wages Manufacturing expenses Salaries Rs. 60,000 90,000 37,500 45,000 Count... 4 DBC240 12. 13. 9: U. n ) D... e) f) a) ) ) Rent and taxes 7,500 General expenses -15,000 Selling expenses 22,500 Sales 3,00,000 For the year 2006, it is estimated that : Output and sales will be 800 bicycles Material cost will rise by 20% Wages will increase by 5% ) ‘Manufacturing expenses will rise in proportion to the combined cost of materials and wages. Selling expenses per unit will remain unchanged. Other expenses will remain unaffected by the rise in output. Prepare a cost sheet for the year 2005 and quotation for 2005 shOWing the price at which bicycles would be sold so as to earn a profit of 10% on selling price. Write notes on : Cost plus contract b) Abnormal gain 6) Rowan premium plan Distinguish between standard costing and budgetary control. Gourd... 5 ...
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This note was uploaded on 10/11/2010 for the course FINANCE 5101144 taught by Professor Hjk during the Spring '10 term at Arab Academy for Science, Technology & Maritime Transport.

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Cost_&_mgt_Accounting'06 - Phi UGO-2287134 i, J 353

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